Cape Fear Literacy Council
- Assets
- $1.8m
- Revenue
- $655.7k
- Investments
- $0.0
- Employees
- 10
- Location
- Wilmington, NC
- Founding
- 06/1985
- Data as of
- 12/2023
- EIN
- 58-1613254
Organization Overview
Cape Fear Literacy Council is located in Wilmington, NC. The organization was established in 1985. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 12/2023, Cape Fear Literacy Council employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cape Fear Literacy Council is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Cape Fear Literacy Council generated $655.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $492.6k during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PERSONALIZED EDUCATION SO ADULTS CAN TRANSFROM THEIR LIVES AND CONTRIBUTE TO A STRONGER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTEER TUTORS ASSISTED APPROXIMATELY 382 ADULT STUDENTS TO INCREASE THEIR EDUCATIONAL SKILLS AND ABILITY, AND THEREBY THEIR QUALITY OF LIFE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yasmin Shah Tomkinson Executive Di | Officer | 30 | $46,338 |
Caroline Scorza President | OfficerTrustee | 1 | $0 |
Katie Medina Vice Preside | OfficerTrustee | 1 | $0 |
Alondra Vazquez Jurado Secretary | OfficerTrustee | 1 | $0 |
Karin Carson Treasurer | OfficerTrustee | 1 | $0 |
Sarah Stone Assistant Tr | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $28,504 |
| Membership dues | $0 |
| Fundraising events | $123,381 |
| Related organizations | $0 |
| Government grants | $140,948 |
| All other contributions, gifts, grants, and similar amounts not included above | $362,812 |
| Noncash contributions included in lines 1a–1f | $3,366 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $655,645 |
| Total Program Service Revenue | $0 |
| Investment income | $17,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,113 |
| Net Income from Fundraising Events | -$14,560 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,964 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,738 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,338 |
| Compensation of current officers, directors, key employees. | $9,268 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,053 |
| Pension plan accruals and contributions | $5,620 |
| Other employee benefits | $12,889 |
| Payroll taxes | $21,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $926 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,953 |
| Office expenses | $13,417 |
| Information technology | $14,459 |
| Royalties | $0 |
| Occupancy | $7,497 |
| Travel | $236 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,170 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,042 |
| Insurance | $13,755 |
| All other expenses | $13,629 |
| Total functional expenses | $492,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,757 |
| Savings and temporary cash investments | $158,138 |
| Pledges and grants receivable | $151,622 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,870 |
| Net Land, buildings, and equipment | $863,768 |
| Investments—publicly traded securities | $435,717 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,781,872 |
| Accounts payable and accrued expenses | $19,230 |
| Grants payable | $0 |
| Deferred revenue | $1,235 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $157,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $177,494 |
| Net assets without donor restrictions | $1,452,756 |
| Net assets with donor restrictions | $151,622 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,781,872 |